Ready to Sell Your Ridgefield, Connecticut Restaurant?

After years of labor, you have decided to sell your Ridgefield, Connecticut restaurant

Considering starting a different eatery, relocating, or even retiring. No matter the reason, selling a Ridgefield, Connecticut restaurant can be way more difficult than you may think. Thats because it takes careful preparation and a solid game plan to successfully exit with enough proceeds for all the time you’ve put into it.

Important Steps to Consider in Selling Your Restaurant

You can either make the decision to hire a Ridgefield, Connecticut restaurant broker to guide you in selling your Ridgefield, Connecticut restaurant or do the task on your own. If you are considering selling your Ridgefield, Connecticut restaurant on your own for the first time or with a restauarant broker, here are some tasks you can follow.

#1 Gather any Important Documentation

This is an important preparatory step to make when you begin the process of offering your Ridgefield, Connecticut restaurant.

The required documents may vary from state to state--even in Connecticut, but the following is a list of some generalized documents you may be requierd to have prepared:

• A list of your assets
• Lease contract
• Your licenses (e.g., liquor license, business license, etc.)
• Copies of health inspection documents
• Architectural plans
• Financial statements and other important financial documents

Corbett Restaurant Group comes with experience to assist you in the sale of your Ridgefield, Connecticut restaurant. Call today for a no-obligation business review at (888) 266-5182.

It's probably best not to show the majority of these documents to a prospective buyer day one. But, you should have them on hand because you will certainly require them during the sales process.

In addition, compiling these documents allows you to see your Ridgefield, Connecticut restaurant through the lens of a buyer. This provides you a clear picture of the Ridgefield, Connecticut restaurant you're selling. Furthermore, it helps you identify whether there are any concerns you'll need to address.

#2 Get Your Financial Records in Order

Your financial documents are an important detail of selling your Ridgefield, Connecticut restaurant. This is the reason you should make it a priority to make your documents accurate and well organized.

Showing your financial records to possible buyers could help clear any doubt they may have concerning your Ridgefield, Connecticut restaurant.

These financial records can include:

• Inventory of equipment and assets
• Profit and loss statements
• Tax records
• Cash transactions
• Bank statements

In addition, ensure you have soft copies of all of the documents. This will make it easier for you to send the records to potential buyers.

In addition, as the seller, you must disclose information such as debts, owed taxes, planned repairs, etc. Failing to inform a buyer about these items may create legal issues for you if a buyer later discovers these ommissions post sealing the deal.

#3 Put Together the Information On Your Commercial Lease

In the process of preparing to sell your Ridgefield, Connecticut restaurant, you need to review of your commercial lease. It would be disappointing if, after securing a buyer, your lease hinders you from closing the deal.

For this reason, it is advisable to talk to your landlord regarding your plan to sell your Ridgefield, Connecticut restaurant and to potentially extend your lease.

#4 Get An Appraisal For Your Restaurant

Buyers and investors may request an in-depth analysis of your financials, whether favorable or not, this will help them estimate the true value of the Ridgefield, Connecticut restaurant.

It is therefore in your best interest to make sure that you increase sales and reduce expenses to increase your cash flow starting to sell your Ridgefield, Connecticut restaurant.

The estimated time it takes to sell a Ridgefield, Connecticut restaurant is 6 months. Within the six months, there is a lot you can do to increase your profit and slash various costs, and thus strengthen the worth of your Ridgefield, Connecticut restaurant.

Also, with regards to your assets, you need to understand the depreciation involved. Everything depreciates, so it’s a good idea to individually value your assets.

This could assist you in coming up with the overall value of your Ridgefield, Connecticut restaurant. When you understand the overall worth this may help you determine a selling price.

#5 Increase Curb Appeal

The first impression of your Ridgefield, Connecticut restaurant will go a great distance in helping you attract potential buyers. Alternatively, if the general curb appeal of your Ridgefield, Connecticut restaurant does not look good to buyers, they might take a pass without consideration.

To avoid this from happening, all things in and out of your Ridgefield, Connecticut restaurant must be clean. Manicured and a clean parking lot could help create curb appeal for potential buyers.

Spot-free windows, polished handles and a presentable floor are also small items that would help create a memorable initial impression.

Additionally, you should make sure all the equipment is in satisfactory condition. If your equipment is not working properly, it could convey the message that you are in a hurry to pass a bad deal to the buyer.

Non-functional equipment may rouse doubt about your financial capabilities and production capabilities. It may even lower the mood of your staff, which in turn, negatively affect your output and effect your profit and loss statement.

You should appear credible in order to build the confidence of potential buyers concerning purchasing your Ridgefield, Connecticut restaurant.

#7 look for Ridgefield Buyers

Looking for potential buyers can be time-consuming and can require specific skills and a certain level of experience. This may demand that you hire an experienced Ridgefield, Connecticut restaurant broker to help. The professional Ridgefield, Connecticut restaurant broker will offer recommendations for saving time for drawing in more prospective buyers. However, if you make the decision to handle this project by yourself, you will need to create appropriate advertising. You can offer your Ridgefield, Connecticut restaurant on listing websites and let your family and friends know about your plans to market for sale your Ridgefield, Connecticut restaurant.

As you will likely come across competition when trying to sell your Ridgefield, Connecticut restaurant, you need your restaurant to stand out.

#8 Be Ready

Whether you decide to sell your Ridgefield, Connecticut restaurant yourself, or through a Ridgefield, Connecticut restaurant broker, you need to always be ready. Be prepared to show your Ridgefield, Connecticut restaurant to potential buyers at all times.

You'll never know when a buyer will visit your Ridgefield, Connecticut restaurant. Some buyers might even visit as customers just to perform some research before contacting you.

#9 Sell Your Ridgefield, Connecticut Restaurant

This is the final action to take after a successful negotiation with a buyer. This stage involves the presentation of the necessary paperwork to complete the deal. The documentation often start with the Asset Purchase Agreement.

You should have your attorney’s expertise in creating this document. Working with an attorney is recommended to ensure the Asset Purchase Agreement covers every detail of the contract.

This document includes details such as the selling price of your Ridgefield, Connecticut restaurant, assets and equipment as well as inventory value.

Choosing a Ridgefield, Connecticut Restaurant Broker

Although attempting to sell your Ridgefield, Connecticut restaurant on your own can be an exciting endeavor, it could also be very risky, especially for first time sellers.

The fact remains, in order for you to achieve the most out of the business transaction, you need some level of experience in order to stand out against your cometitors while attempting to attract buyers.

Experience is also vital during negotiations with potential buyers. This is when an experienced Ridgefield, Connecticut restaurant broker is recommended. A Ridgefield, Connecticut restaurant broker has the resources, expertise and strategy required to easily take on the task of marketing for sale your Ridgefield, Connecticut restaurant. Additionally, a restaurant broker can help you sell faster and for more money.

With the assistance of a Ridgefield, Connecticut restaurant broker, you can focus your undivided attention on operating your Ridgefield, Connecticut restaurant and rest easy knowing that a professional is in charge of selling your Ridgefield, Connecticut restaurant.

Contact a Ridgefield, Connecticut Restaurant Broker

Choosing to sell your Ridgefield, Connecticut restaurant through a Ridgefield, Connecticut restaurant broker has several advantages. First, however, you need to select the best Ridgefield, Connecticut restaurant broker to assist you in selling your Ridgefield, Connecticut restaurant.

At Corbett Restaurant Brokers, we consider it our honor to represent you in the sale of your Ridgefield, Connecticut restaurant. And, we work harder than any other Ridgefield broker to secure the best deal for your restaurant and at the highest sale value.

Contact Corbett Restaurant Group today and let us help you sell your Ridgefield, Connecticut restaurant for a great price.

Ridgefield Zip Codes We Support: 06877, 06879